Topic: Former Germany Finance Minister Calls Out For Missed Bitcoin Opportunity (Read 255 times)

I don't consider their selling decision as an action of greed; it's a decision that they took in respect to their seizure laws. That's not a coin they accumulate with a budget; it was something that just happened, and when the need for it to be freed came out, they had to. 
 
And if they want to make a profit or benefit from Bitcoin, there is still time for them to do that; all they should do is start now and make plans for that and not just the regular speech by a politician who wants to seek another opportunity to office and thinks talking in favour of Bitcoin can give them a smooth ride to achieving their goal.

If they are not so greedy to sell every Bitcoins they have before then provably that they could earn a lot more profit now compare before.

What reaction they made is common action for people who regret that they sell and counting possible huge profit they could get if they just choose to hodl these days.  But guess for us normal investor its so good that that they made that decision before where there's no good movement happening with Bitcoin. Since if they do there massive sell off when Bitcoin reached at $100k then provably that it will just bother the current good movement which is currently happening with this coin.


So let them regret what they are missing on that's why always put trust on Bitcoin and it will give good profit to those people who decide to hold for more years.

This is a very strange way of looking at things.

Does that mean that if someone gives you a piece of art and you fail to recognize its value and sell it cheap, you haven't lost any potential profit because you haven't invested any money?
Throwing money away is always a loss, no matter if it's done intentionally, by mistake, out of neglect or lack of knowledge.

Germany caused a price correction by dumping coins. It delayed the bull market. Its decision to sell was like a double negative because it deprived the country of potential profit and created some market fear and turmoil that we really did not need at that time.

At this particular stage of the pump many countries and investors are actually making speculative moves on Hodling bitcoin and it's not quite surprising giving the most recent pump and the current momentum that is continuously increasing. Personally I think most countries didn't take on the opportunity while it was at it's peak with the closest instance as when we experienced massive pull back to around $49k.

At this point bitcoin adoption will increase tremendously especially if more countries continue to make solid moves to buying more coins. The only problem I see is price manipulation would be more of an issue since more big firms and countries will end up holding larger amounts of bitcoin.

Perhaps there are further news soon: Frank Schäffler, the FDP politician I mentioned in the last post, seems to have confirmed that the FDP, in their official campaign document, will propose to work towards "openness" for a strategic reserve, both for the German Bundesbank and for the European Central Bank (according to BTC-Echo). Schäffler has also confirmed this at his X account.

The official campaign document has however still not been published fully, so I couldn't confirm that.
Edit: Confirmed! See here. As written above, they indeed propose "openness" for a strategic reserve on national and European levels, in addition to the approval of Bitcoin ETFs.

The FDP is a relatively small party and it's unclear if they will cross the 5% threshold to enter the parliament in the February 2025 election in Germany. However, it's again interesting that Bitcoin-related proposals are entering the political space. I'm not so much a fan of strategic reserves -- I'm actuall neutral on that topic in general, but I'd be energically against attempts of governments/Central banks to try to influence the Bitcoin protocol via this way.

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While I generally agree with that, as far as I know this restriction is only valid for strategic reserves of the Central banks of the Eurozone countries.

There are however other government entities that could, in theory, invest in Bitcoin in similar ways they invest in stocks of local companies or bonds. For example municipalities or member states of federal countries, just like the US states which are now trying to create strategic Bitcoin reserves. In some cases there are local/regional restrictions to avoid too speculative investments though, which of course would also affect Bitcoin potentially.

There are also other interesting cases, this time not in the EU but from Argentina I know that state companies are mining Bitcoin since a couple of years. It seems they're however not holding but selling the coins to a service provider. But that could, in theory, be also a "backdoor" for a strategic reserve.

Well, it's always easier to criticize others than recognize one's own mistakes from the past. It's also easy to accuse people of missing an opportunity with Bitcoin, now that Bitcoin's in the bull phase. But I think it's understandable that countries with strong risk-averse mentalities and institutions avoid assets they deem risky. It wasn't obvious that they'd gain $2.5 billion, for example. Bitcoin could easily lose value over time and still be in the bear market.

I really don't know what kind of mistakes you are talking about in the context of the fact that a German province sold seized BTC in compliance with the law on seized assets. Nor could the German parliament, the president or any third party decide on it.

For those who obviously live in some fantasies that countries that are members of the European Union and the Eurozone can buy BTC without the approval of the European Central Bank, maybe they should familiarize themselves with the monetary policy of the EU before making their statements.

Yes for sure haha I'm actually fan of Lindner and FDP because all other parties are so much worse politics is really disgusting

All big politicians are cooked if we look deep enough, aren't they? 

Christian Lindner blaming his own government for selling Bitcoin before Bullrun before GTA 6 - What a time to be alive.

Honestly, Germany is cooked when it comes to our politicians.

I think mainly BTC is so beneficial for El Sal because their problems, on the scale of bigger countries - are much smaller. And overall - the president of El Sal is working hard on all of the problems, where BTC is not really the most valuable solution to them.
But as time goes on - I think more countries will understand that having BTC in reserves would be beneficial for them in the long run.

Most governments not only Germany but all other countries that have either failed to establish strategic Bitcoin reserves, adopt Bitcoin, or sold out seized Bitcoin like in the Case of Germany have all missed out on holding Bitcoin as a reserve when Bitcoin was below $100,000 benchmark, so the new era politicians who have realized this have suddenly become pro-bitcion during campaigns, the reason is that despite the short and offensive approach given to Bitcoin by some countries leaders in the past that could not stop Bitcoin from gaining it long term value and compatibility with modern financial agents and assets.

El Salvador took a bold step despite backlashing from the World Bank (IMF) and others, El Salvador adopted Bitcoin as a fully legal currency and opened a national reserve in Bitcoin, which profits from that reserve can offset the country's debt if El Salvador decides, this success has attracted a lot of other countries that is why you see global leaders and politicians currently becoming pro-Bitcoin even though they all individually have the personal Bitcoin asset, but proposing it as a national reserve.

Agreed through and through.
BTC is not a magic wand of sorts - it can only do so little currently in the grand scheme of things related to the country's economics.
And that's okay, because there are things it was meant to solve and those it isn't.

Germany's problem is expensive energy, Argentina's problem is corrupt government, uncontrolled money printing causing severe inflation. Meanwhile, El Salvador's problem is high crime...I wonder what role bitcoin will play in helping these countries improve their economies. Can Bitcoin help governments crack down on crime, can Bitcoin create cheap energy for Germany, or can Bitcoin reduce government corruption and bad economic policies...? Bitcoin is not God, it is not a panacea for this world, we should not over exaggerate what bitcoin can do.

Bitcoin was created to be a peer-to-peer currency with no third parties and we use it as a speculative asset to make profits. That's all it can do, it can't deliver economic opportunity at the national level.

They will do it only when everybody else will be already on the train toward results.
Alas, - it would be better than nothing in the end.
And it probably wasn't a mistake per se - after all, these were seized BTC, not the ones they got themselves to do something with them in the future.

The funds they seized should of been disposed of by the law, it's not like they had a chance to do something else with them.
Other than that - agreed, politicians start to use crypto and BTC mainly as a lever to push a narrative. Nothing strange, as BTC is becoming well-known in bigger and influential circles.

First of all, Germany did not lose anything when they sold their bitcoin. Those bitcoins were not bought, they were seized so whatever price they got them for was a profit. Their profit could have been obviously be more but they didn't make a loss.

I keep telling people not to see politicians as friends of bitcoin. They're just jumping on the train because it suits them. Trump was the biggest critic of bitcoin, today he's b ING regarded as the lord and saviour of bitcoin. Politicians will always be politicians. If bitcoin performs badly in a few years you'll see these same people talking about how bitcoin has always been a scam.
People need to understand that bitcoin will always be bitcoin with or without these world leaders.
A man that couldn't do anything about investing in bitcoin 3 years ago is criticizing his predecessor for not investing in bitcoin now because it's performing well.

What are the economic opportunities, that Bitcoin has to offer? I can see only one economic opportunity- Buy low and sell high. There aren't any other economic opportunities offered by Bitcoin(or crypto in general). Germany has problems, that have nothing to do with Bitcoin(and cannot be solved by mass BTC adoption). The main economic problem Germany has right now is the problem with expensive energy. Bitcoin adoption cannot solve this problem. This Lindner guy probably got paid by some German crypto lobbyists to say those things about "missed Bitcoin opportunities". I'm sure that he isn't a genuine Bitcoin supporter.

This is standard political rhetoric, to say that all other politicians are doing it wrong, but I (Lindner) came and I know for sure and will do everything as it should be.

These are just words, but their past deeds put everything in its place and clarify the true attitude towards the bitcoin.

Politicians are cunning and selfish rats, feeding off the budget of countries, ready to lie in every way for their own benefit. It's surprising that after each of their antics, people continue to blindly believe them.

And what kind of explanation can he give if he's already f@cked up?

Well, well. Someone even noticed this, and yet everyone had already begun to think that politicians began to support bitcoin solely for the sake of a technological breakthrough.

How did Germany lose if it received huge amounts of money for the budget from this sale? It didn't have this money, but now it does. I wish I could also receive similar losses.

If they want to change, a right mind for their plan is DCA. With DCA strategy, there is no pressure like buying now or you miss the great opportunity forever.

I believe that they will look at some classic and biggest examples that are successful DCA strategy, Micro Strategy, El Salvador, Bhutan with first two are examples for DCA. Bhutan collect bitcoin mainly from Bitcoin mining and every country can allocate their national energy for Bitcoin mining if they want. Nothing is harmful for their nations if they use renewable energy for Bitcoin mining and try to deploy zero-net emission for their Bitcoin mining farms.

Debunking the "Bitcoin is an environmental disaster" argument

And they still not learn from their mistakes, they should have bought Bitcoin right now otherwise they will regret in the next year. According to arkhamintelligence, there are no activity with their wallet after they sold all of their coins. $100K is cheap, it's not the highest price that Bitcoin can achieve.

But, I think this criticism will not give any effect because this year right-wing parties won over left-wing parties.

They likely don't want to accept new thing and want to stay in traditional way.

The part of his speech where he mentions Bitcoin was too short to really draw conclusions from. It's basically only a criticism of the German Parliament and the government regarding possible missed opportunities. He didn't mention, for example, the concept of a "strategic reserve", but instead hints to a "crypto-friendly policy".

One can only speculate what he means. Germany seems to be relatively crypto-friendly in some aspects (e.g. that you don't pay taxes if you hodl Bitcoin and other cryptos [1] for more than one year). In the German subforum however one can read some complaints about the difficulty to get crypto exchange licenses in Germany and to generally start Bitcoin related businesses. This, however, is afaik now been harmonized with other EU countries due to the MiCa regulation.

So due to the lack of detail, it's likely that Lindner's Bitcoin mention is simply part of the electoral campaign ("he mentioned BTC!! he's pro crypto, so Bitcoiners should vote him!!"). However this is not really surprising, other FDP members, above all Frank Schäffler, are pro-crypto since a decade already, and it's also not surprising for a classical liberal party. Lindner recently also has mentioned Javier Milei and Elon Musk as examples to follow, at least in some aspects.

It's interesting that in the video you hear some other Parliament members shout something (seems to be criticism) but then also he gets some applause.

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[1] originally, there was a dispute if PoS currencies can also benefit from that rule, but it seems recently there is consensus among crypto accountants that they can.

People make mistakes and want to correct them. But in the case of Germany and Christian Lindner they lost a golden opportunity and might never regain it. There was criticism from many Bitcoiners about the decision of the State of Saxony to sell its confiscated Bitcoin worth about $3 billion when most people knew that they could have made more money within a few months.

When relatively unknown countries like El Salvador and Bhutan were busy investing in Bitcoin, Christian Lindner as finance minister would have been advising Germany never to invest in such an asset. Now like puppets, most of these politicians are advocating for a Bitcoin reserve because one man talked about it. One will begin to wonder if the US is their puppet master. Bitcoin will still be what it is destined to be without hypocrites.   

I indeed think that it is funny why the former finance minister states that Germany had missed out on the opportunity Bitcoin offer when he was once have the power to do so.  I do not think this former finance minister have the right to say such regrettable speech blaming the one who is currently sitting on his former position.

I also agree that BTC does not need the kind of politician who just do the talking and nothing of action.  Although their speech stirs up the market somehow, I believe Bitcoin is already doing fine without them on the scene.

Personally I am with those who most definitely think that some of us actually give too much relevance to these politicians view on bitcoin, if you could remember most of these so called politicians who are forcing up a fight now for bitcoin where those who had worked for it to not succeed in the past why now? Because it gets them the attention of the growing numbers of investors? Even now ask them about the use case of bitcoin and most of them wouldn’t be able to give a single reason has to why they want it other than it grows in profits. There is no denying the fact that their involvement will most surely increase adoption rate but I sincerely do not want too much political involvement.

As for the German lost on bitcoin I still tell people there is no reason to actually bash them for selling early because it was a confiscated asset and as far as I know they can’t be held for that long. More so not only them with bitcoin price heavily increasing and will continue to do so everyone who sold even at $200k will one day think they missed the top and should have held more longer

can you freaks stop ass kissing trump.. he didnt invent the idea of bitcoin reserves

its infact a regulation by the BIS(bank of international settlements) that each country has to publish, account and audit its bitcoin holdings from january 2025

this has been talked about for a couple years now and had no influence from trump

i truly laugh at the trumpettes that want to give trump fame about something he didnt even conceive or be part of its inception

https://www.bis.org/bcbs/publ/d545.htm 2022
https://www.bis.org/bcbs/publ/d556.htm 2023
https://www.bis.org/bcbs/publ/d580.htm 2024

During the time that they sold everything, there was still no Donald Trump making Bitcoin as a strategic reserved. And maybe it's their government's policy to sell or auction those seized Bitcoin just like what US did before.

So just to be fair, it's not that a big deal for them or the Finance Minister as he is doing his job. And if I'm not mistaken, they sold the Bitcoin because they are required by law to sell all assets confiscated in a criminal trial.

Although they could have waited, but we don't know what the future bring.

Christian Lindner the former finance minister of Germany made a speech yesterday in Bundestag where he mentioned that the Government have missed out on all the economic opportunities Bitcoin offers. His statement made users on X to bounce on his opinion with lots of questions why he didn't give Bitcoin a shot during his tenure 3 years ago.

Politicians don't seize to amuse me with the switch of statements when a new financial development arises about bitcoin. Is he making fun of himself by slamming Olaf Scholz the Chancellor of Germany, when he did nothing about investing in Bitcoin? Also he made no clarifications about his negligence on btc while on sit as the minister of finance.

Politicians are begining to use btc for campaigns because of the funds top BTC firms send out to help them win election, even when they didn't show regard to btc when in power and during the grass root days.

On the other hand, Germany indeed lost over $2.5billion in profit when they sold 50,000 bitcoins seized by the public prosecutor's office in Saxony when the price was at 53k. An X user mentioned the community need no politicians interested in BTC.

What do you think?

https://cryptorank.io/news/feed/e67c8-germany-ex-finance-minister-criticizes-government-for-overlooking-bitcoin